The Terra price (month) is printing new ATH, why should traders be wary in the short term?

The price of the month rose by nearly 50% last week
Price of the month on the Channel rising for 3 weeks
50 MA support support for 3 weeks

Last month’s price for the month went crazy as prices rose by about 350%. A breakaway of BTC above the main resistance brand of $ 40,000 allowed Terra and other alternative currencies to burst from their lows. The overall cryptocurrency Sunday has been pumping for almost a month, raising the question of when the pullback will occur. At the time of writing, many coins are hard & look, starting with some sort of retreat. This is a perfectly healthy scenario that will allow prices to grow with more strength and stability. 

Read More: A Guide to learn more about LUNA price and high time zones

Looking at the rising channel shown in blue, we see that the price has great respect for both trend lines. When the price of the month reached any trend line, the price deviated from it. This scenario occurred when the price of the month reached $ 24 and was immediately rejected further into the channel. To keep the month higher, the price must break and hold the main resistance level, which is in the December of $22.40 – $ 23.98. If that happens, the Moon’s price will then move into uncharted territory, creating new signs of resistance. Overall, it is a very good sign for kriptorynka that a major sub-coin has broken the previous all-time record. 

Lunausdt price analysis: LUNAUSDT, 4-hour chart

At the time of writing, LUNA’s price is trying to maintain the small support level of $ 20.86. If this support continues, Terra can retest the main resistance zone. If the Bears continue to take control of the situation, the month will likely come down to the next small support level of $ 19.50. This support is very close to the lower trend of the rising channel. This area has an excellent opportunity to enter the rebound zone for the moon. If Terra breaks almost 3 watts, anything below that mark will be highly bearish

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